Somebody doesn't like the truth.
Have you taken into account yet that CNNC and CIC (a major bondholder) are both owned by the Chinese Government.
If a valuation comes in that is higher than CNNC is prepared to pay it is just a matter of CIC calling in their bonds and that is it for PDN.
IMO it would be to CNNC's and the Chinese Governments advantage to buy LHM for the lowest amount possible. They would not be concerned with PDN's future after that.
If CNNC do not purchase LHM PDN is out of both time and money, and there are no other buyers at the table. For this reason I think you will find that the PDN board will be forced to accept a low offer rather than go into receivership.
Ann: Reinstatement to official quotation, page-128
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Last
$13.58 |
Change
-0.220(1.59%) |
Mkt cap ! $4.060B | |||
| Open | High | Low | Value | Volume |
| $13.64 | $13.76 | $13.52 | $10.04M | 738.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 73 | $13.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.58 | 1322 | 2 |
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| Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
| PDN (ASX) Chart |